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Category » Self Managed Super Funds

There were 3 articles found in this category:

• Q1 Is a SMSF for me or should I continue to use my industry fund?

  Briefly, a SMSF should only be considered by those who are able to satisfy the following criteria: To be cost competitive you require superannuation assets in the vicinity of $200,000 and upwards (some industry commentators suggest $300,000) That you have sufficient time to devote to the day-t ... Read more

• Q2 What will happen if I contravene the requirements surrounding SMSF’s?

  If the Trustee(s) contravenes their requirements the ATO may ask the Trustee(s) to immediately rectify the situation or in serious cases the ATO may make the SMSF a ‘non-compliant’ fund. A non-complying fund is taxed at a rate of 45% on its taxable income (as opposed to 15% for compl ... Read more

• Q3 What are my responsibilities as a Trustee of a SMSF?

  As an SMSF trustee, you are ultimately responsible for running your SMSF. It is important you understand the duties, responsibilities and obligations of being a trustee. As a trustee of an SMSF, you need to act according to the following: Your fund’s trust deed The provisions of the super ... Read more